December Quarterly Activities Report
Perth, Jan 16, 2018 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (DYLLF:OTCMKTS) provides December Quarterly Activities Report.
In the December quarter work continued on the Namibian projects with a dual effort focussed on both uranium resource upgrade activities on the Reptile Project at Tumas 3 and completion of the first pass target drilling on selected exploration targets that have been identified on the Nova JV Project (see Figure 1 in link below).
HIGHLIGHTS
- Two drilling campaigns completed during quarter on adjacent Namibian projects with successful results.
- Reptile Project - Tumas 3 deposit extended from 4.4km to 7.2km with 1,878m of broad drilling on 400m x 100m spacing.
o drill assays indicate extension area will add to current Tumas 3 inferred resource base.
o work to date confirming high prospectivity of the 100km of palaeochannel remaining to be tested.
- Nova JV Project - first pass drilling targeting mineralisation associated with surficial palaeochannels and alaskite/skarn type basement rocks completed involving 7,490m of RC and diamond drilling.
o promising results on the newly defined Namaqua palaeochannel target (formerly Speke's East) where uranium mineralisation was intersected in three adjacent holes.
o majority of drillholes testing basement targets intersected narrow uranium mineralisation requiring follow-up investigations.
- Increased confidence that the existing uranium resource base of the Company for Langer Heinrich-style deposits can continue to be expanded.
To view the full report with figures, please visit:
http://abnnewswire.net/lnk/85A8EQ87
About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.
Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.
Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
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